The Daily Hit is a recap of the top cannabis business stories for May 23, 2022.
Live Blog from WEF 2022 in Davos Switzerland
Green Market Report editor-in-chief Debra Borchardt blogs live from the Medical Psychedelics Series, at the World Economic Forum being held in Davos Switzerland. Read more here.
Medical Psychedelics Series in Davos
Every year world leaders come together to discuss the global economy at the World Economic Forum’s annual gathering in Davos Switzerland. This small town in the Alps has become the place where the smartest people on the planet come together to discuss solutions to the world’s economic problems and issues. It is not uncommon for various industries to establish a meeting place for people to come together for conversations. Read more here.
Hawthorne and the Hydroponics Market
When we look at what’s happening in the hydroponics market, it’s really not just a Hawthorne issue, it’s across the board. All these companies were saying things had slowed down, but that the market was going to get better at the end of the year. We weren’t getting a whole lot of color on what was happening. Is it that certain states were slow to get going? Is it that there was just truly oversupply? There are so many reasons why this slowdown could have happened. What’s happening here? Read more here.
Decriminalizing Psychedelics
There has been an accelerating movement to decriminalize psychedelics, especially psilocybin, since May 2019, when Denver, Colorado became the first city in the country to decriminalize psilocybin through an initiative, in essence handing a small but significant defeat to the operatives running the War on Drugs. Read more here.
NY Approves 146 Cannabis Farmers
The New York Cannabis Control Board announced on Thursday that an additional 58 farmers for adult-use cannabis have been approved. This brings the total of approved farmers to 146. The NYCCB initially approved 52 farmers in April and then gave the green light to another 36 at the May 5 meeting. People hoping to get these licenses were able to begin applying on March 15 and the opportunity will end on June 30. Read more here.
GMR Women’s Summit (VIDEO)
On April 28, 2022, the Green Market Report hosted its first Women’s Summit in New York City. This successful sold-out event was the first in-person Summit for GMR since before the pandemic. More here.
Boston Beer Company
The Boston Beer Company, Inc. (NYSE: SAM), maker of iconic, high-quality brands such as Samuel Adams, Truly Hard Seltzer and Twisted Tea, today announced the launch of TeaPot, a new line of cannabis-infused iced teas. TeaPot is the company’s first infused beverage offering and will be available in select Canadian provinces beginning in July. Read more here.
4Front Ventures Corp.
4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF), a vertically integrated, multi-state cannabis operator and retailer, today announced its financial results for the first quarter ended March 31, 2022. All financial information is presented in U.S. dollars unless otherwise indicated.
“Our business inflected during the first quarter of 2022 as a result of the investments and efficiencies we made over the last 18 months to meet our long-term strategic goals,” said Leo Gontmakher, Chief Executive Officer of 4Front. Read more here.
Every year world leaders come together to discuss the global economy at the World Economic Forum’s annual gathering in Davos Switzerland. This small town in the Alps has become the place where the smartest people on the planet come together to discuss solutions to the world’s economic problems and issues. It is not uncommon for various industries to establish a meeting place for people to come together for conversations.
For example, in 2019, the Canada Cannabis House hosted a three-day event for people in the cannabis industry to introduce themselves and talk about business with people who were unfamiliar with the industry. This year, Davos is also hosting events around blockchain and cryptocurrency cementing its reputation as a place that encourages forward-thinking outlooks.
In addition to standard topics around climate change and the economy, healthcare is a frequent subject, This year there is a big focus on psychedelic plant medicine and how numerous studies have shown it could be a game-changer for mental health treatments.
One thing that is new this year for Davos is that the main event, the World Economic Forum, was pushed back from its traditional January date to May due to the pandemic. Another new feature will be the inaugural Medical Psychedelic Series which hopes to help shape the future of mental health. The inaugural week-long series will take place from May 21-26, 2022, at the Medical Psychedelics House of Davos located on the main Promenade. It will feature the world’s most prominent psychedelic industry leaders, drug development experts, clinicians, nonprofit organizations, advocates, and influencers. The majority of conversations at the Medical Psychedelics House of Davos will focus on FDA approval for these compounds and their associated therapeutic potential, policy, safety and efficacy, biocultural preservation, drug development pipelines, and patient access.
“This is a one-of-a-kind opportunity for the medical psychedelics ecosystem to share the breakthroughs in psychedelic therapeutics for the first time with world leaders,” says Marik Hazan, CEO of Energia Holdings Incorporated.
“We want to spark conversations about the high unmet need in mental health, the future of FDA approved psychedelic-assisted therapy, provide a platform for establishing meaningful relationships and partnerships, and build trust with the global community,” added Maria Velkova, managing partner of Tabula Rasa Ventures.
Hosted by Energia Holdings Incorporated, the series includes educational talks and panels featuring some of the best-known figures in the psychedelic space, including acclaimed author and psychedelic medicine advocate Deepak Chopra; TV personality and advocate Jason Silva; countess of Wemyss and March, and nonprofit leader Amanda Fielding; psychedelic researcher David Nichols, Ph.D.; Endowed Professor & Vice Chair of Psychiatry, Icahn School of Medicine at Mount Sinai Rachel Yehuda, Ph.D. and many more.
As the COVID-19 pandemic laid bare, mental health is one of the largest underserved areas in the medical community. With few solutions in sight, there is a growing body of evidence that suggests that psychedelic-assisted therapy could provide a breakthrough in treating countless mental health ailments, such as depression, substance abuse disorders, and PTSD.
At Davos 2022, This Medical Psychedelics Series Will Be the Global Platform for Where Select Attendees Will:
Learn from leading experts in the medical psychedelics industry who are setting the narrative for both mental health and psychedelic therapeutics on the global stage in front of world leaders.
Experience sessions curated to engage all six senses and give an unforgettable heart-opening, mind-stimulating, experience of human connection through sound meditation, breathwork, and conscious leadership workshops.
Connect with psychedelic entrepreneurs, researchers, policy makers, and nonprofit leaders and some of the world’s most innovative psychedelic organizations like the Multidisciplinary Association for Psychedelic Studies (MAPS), Maya Health, Compass Pathways, Imperial College London, and many others.
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Emerging East Coast State Markets to Buoy Cannabis Industry as Legalization Stalls https://t.co/cDzLtkFpRE
Psychedelic Therapy Industry Reels After Major Clinic Closures https://t.co/KOZjYixYWb
Daily Hit: March 22, 2023 https://t.co/t8cSkJl3zj
Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.
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